Square Enix Joins the Blockchain Gaming Revolution

Square Enix is the latest video game publisher to discuss using blockchain technology for future game streaming. In a New Year’s letter to investors, Square Enix president Yosuke Matsuda discussed the company’s interest in emerging technologies like blockchain and game streaming.

“With the subsiding of the cryptocurrency bubble, the use of blockchain technology has spread to a variety of non-cryptocurrency domains as well,” Matsuda wrote.

One has been the gaming space, where there have been some interesting developments with games and game platform services using blockchain technology. We are also very interested in potential applications for blockchain technology in the digital content space.

If Square Enix decides to go forth with blockchain based gaming they will join companies like Ubisoft, who became an inaugural member of the recently formed Blockchain Game Alliance in 2018. Other members include blockchain software firm ConsenSys and other startups such as Enjin, Fig, Alto, Ultra, Gimli, EverdreamSoft and B2Expand. Ubisoft also developed an entire game using the blockchain. The game allows players to earn digital cash that can be converted into bitcoin.

“In addition, with both the public and private sectors supporting cashless payments, numerous digital currency services are currently battling for supremacy in that field,” Matsuda noted.

Matsuda and Square Enix also expressed an interest in joining the developing video game streaming industry. The possibility of blockchain-based video game streaming is likely to be further explored in 2019.

“In particular, game streaming services will be the ultimate driver of a rapid transition from the sale of games in boxes to digital consumption,” Matsuda wrote. “Streaming also lends itself to new subscription-based business models, so we believe deciding how to engage with these forthcoming trends will be key to future growth.”